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Who will really become 'The CMGI of Europe'?

21-10-1999

Who will really become 'The CMGI of Europe'?

Greenfield Ventures, tipped as one of the most likely companies to fit the bill, have been approached by a number of organisations looking to acquire the company, ' there is a validation from investors in Europe and the USA who now believe

that our model is the best available'.

Newly formed companies such as Spark, e9C, softstartups.com and others are now starting to emulate the GV model.

Greenfield Ventures operates using techniques which have been highly successful in nurturing companies in Silicon Valley but have rarely been used in Europe. Many start-ups in the information technology field fail because they lack firm, effective and informed management even though their concept may be sound.

The purpose of Greenfield Ventures is to fill top level experienced management, distribution, relationship building and investment gaps each startup faces.

The company identifies and provides management and guidance that start-ups need to prosper and takes an equity stake in those it judges to have potential. It will also provide the sort of sophisticated financial support that goes beyond what is provided by high street banks.

Since formulation in 1996, Greenfield Ventures has carved out a unique niche for itself as Europe`s first professional incubator for start-up companies in the software and internet industries. Greenfield Ventures has built up a portfolio of 20 investments in client companies including Rex Online, MyVal Plc, and Quintus Corporation who have filed with the SEC to Float on NASDAQ before the end of this year, Greenfield holds equity in two other companies also looking to Float on NASDAQ during the next few months.

Members of the Greenfield board include the former MD of Silicon graphics, Nigel Seed, the head of Oracle in Germany, Franz Niedermaier and Tony Shearer, European Chief Executive of the US Mellon bank.

Managing Director, Tim Taylor established the company because he felt high street banks were failing to offer the specialist support to entrepreneurs. He also felt they needed the sort of expertise which is available in Silicon Valley but in short supply in Europe. 'For start-ups, half the problem is finding the right advisors, Greenfield exists to fill that crucial gap' he

says.

As well as focusing on the European market, Tim Taylor is interested in formulating contracts in all of the major markets including Asia, Australia, the United States, Africa and the Middle East. In order to capitalise onits' current growth, Greenfield Ventures is considering its options currently.